PRESS RELEASE
Noerresundby - Denmark
Wrist, the world’s leading ship and offshore supplier of provisions, stores and spare parts logistics, announced today that the company has been acquired by J.F. Lehman & Company (JFLCO), a US private equity firm with deep sector experience in the maritime industry, from its previous owner, Altor Fund II (Altor). The transaction marks a new chapter for Wrist as it continues to accelerate growth, lead the digitalization of the marine supply industry and expand its global footprint.
Under Altor’s ownership, Wrist has achieved significant success, enhancing its customer-centric service offerings and strengthening its market presence through 19 acquisitions including recent expansions in Busan, South Korea and four major Brazilian ports in 2024. This strategic growth has played a critical role in consolidating the highly fragmented maritime supply market. Over the past 17 years, Wrist has grown fivefold and is now twice the size of its nearest competitor, solidifying its leadership in the industry.
Wrist has also been at the forefront of digitalizing marine supply, investing in technology to improve transparency, efficiency, and ease of procurement and supply chain for its customers. These innovations are already benefiting some of the world’s largest shipping companies, further strengthening Wrist’s position as a leader in the industry.
“We are thrilled to join forces with JFLCO, whose vision and track record in the maritime industry make them an ideal partner for our next stage of growth,” says Jens Holger Nielsen, Group CEO Wrist. “We are grateful for the support and guidance of Altor over the past 17 years, and we are very pleased that the Altor partnership has reinvested in the business alongside JFLCO,” he continues.
JFLCO expressed enthusiasm for the acquisition, citing Wrist’s strong leadership, market position and potential for further expansion and growth. “Wrist is an outstanding fit with our investment strategy. Its strong positioning with blue-chip customers, differentiated logistics capabilities and innovative digital solutions are transforming the maritime supply chain. We are eager to support the company’s growth ambitions and long-term success,” says Will Hanenberg, Managing Director at J.F. Lehman & Company and the new Chairman of Wrist.
“We are incredibly impressed by what the Wrist team has achieved during Altor’s ownership. Throughout our long partnership, they have led the way in their industry by placing innovation and customers first,” said Soren Johansen, Partner at Altor and outgoing Chairman of Wrist.
About J.F. Lehman & Company
Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C. To learn more, please visit www.jflpartners.com
About Altor
Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Eleda, Carnegie, Kaefer, OX2 and Nordic Climate Group.
About Wrist
Wrist is the world’s leading ship and offshore supplier within provisions, stores, spare parts logistics, budget management and integrated marine supply services, operating across 35 locations worldwide covering 750+ ports with a market share of about 12%. The company is a pioneer in the digital transformation of the maritime supply industry, streamlining the marine supply chain and procurement for customers. Committed to sustainability, Wrist continuously works to reduce its own climate impact while proactively addressing the market’s growing need for responsible solutions and services.
Contacts:
Jens Holger Nielsen, Group CEO Wrist
Phone: +45 9931 9649
Anders Skipper, Group CFO Wrist
Phone: +45 9931 8177
Photos, press material, etc.:
Tine Lind, Director Group Marketing and Communication, Wrist
Email: tili@wrist.com, phone: +45 4174 8947
Wrist Ship Supply A/S
Stigsborgvej 60, 9400 Noerresundby, Denmark
wrist.com
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